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FXCM Discussion

  • #8,761
  • Mar 15, 2016 6:19pm Mar 15, 2016 6:19pm
Quoting Cobra
{quote} With reference to your word DEMO typed in bold red letters: Why would i as a car dealer place a car on the showroom floor without an engine in? What would the purpose be of a demo acc if it needs fine tuning ( setting max deviation) before i can see the true benefits of it? Why would Mercedes first want you to "tune" the engine first but BMW offers you a turnkey product which works just fine from the word go?
That is not a fair comparison. Mercedes and BMW compete in the same class of cars with similar features. FXCM offers you an enhanced Maximum Deviation feature that is not available with the other brokers you are testing. This gives you unique control to specify how much negative slippage you are willing to accept, and the best part is it only limits your negative slippage, not your positive slippage. Do any of the other brokers you are testing provide you with stats like FXCM does regarding positive vs. negative slippage? http://bit.ly/21hOZa5

Also, I highlighted the fact that you are trading on a demo to point out that even if all your other accusations against us were true, it would still not make sense for any broker to trade against you on a demo account, since no real money is at risk. Therefore, I hope you will now realize that the reason behind the Off quotes message is not as you thought but rather as I have explained: http://www.forexfactory.com/showthre...44#post7872944
  • #8,762
  • Mar 15, 2016 6:55pm Mar 15, 2016 6:55pm
Quoting JMaurice
What's the new name going to be?
Quoting hatzius
{quote} If they have time to get a new name before all the shareholders are gone... It was down 26% this morning. Time to withdraw your money! I'm just a few hundred bucks left with them, from > 30k, then from 2k... I'm not far from trusting less than 50 bucks with them (as I'd do with a broker from Cyprus). They are cleaning their reputation presumably by doing this change. Meanwhile shareholders are getting less and are forced to incentivize FXCM's management! For what, really?
Quoting n_aftab
{quote} whats going on with them?
Quoting FlashCall
{quote} So what...it was even lower last month...so the current price is still $2 higher vs feb. From what i see the stock is still up or do you see a stock dump at the moment? The stock had a really big up momentum last month anticipating a better deal, which didnt happend. So everybody is taking profits, yet remained bullish; just at a reasonable price.
Quoting n_aftab
as far as i can say is this .. yes they took a hit after the whole chf situation .. but they managed to stay afloat and get a loan .. because they are floated on the nyse everyone panics but think about this what about all the other brokers that took a hit that are not listed .. you have no clue whether they took big hits and what they are hiding on their books ... something to think about,
Quoting hatzius
{quote} They are playing dirty. Everyone expected the renewed accord with Leucadia to have some upswing for shareholders (it was a 50/50 split in profits initially). They announced a new form where Leucadia gets the same, FXCM management gets up to 14% and shareholders cornered to accept it. And of course, they are changing their name! Dropping > 20% in one day and having FXCM's history, I'm telling you, especially if you're US based, it's time to park your money somewhere else.
Quoting FlashCall
{quote} Yet trading higher, before the upswing frenzy...looks like shareholders are still OK (for now).
Quoting zznbrm
{quote} C'mon man. Is that really how you read the new MOU, FXCM's financials, today's press releases and the stock movement? FXCM continues to climb out of the hole created last January...they are in a much stronger position than they were a year ago. Name change? Who cares. I see nothing that indicates trader accounts are in any jeopardy. In fact, I'm going to send them more money...and I fully anticipate no issues. Let me guess...you are the type of guy who screams "Fire" in a crowded movie theater when someone walks in with a lit cigarette.
The stock price is a reflection of shareholder value as a result of the Leucadia loan. While I can't personally comment on it beyond citing info that's already publicly available, below is an excerpt from a LeapRate article that @shrike pointed out:

"most of the overall writeoff/loss is non cash and non operational, and has nothing to do with FXCMs operations and corporate health, but rather with accounting charges FXCM needs to take due to US GAAP accounting rules thanks to the future benefit that FXCM gave up to Leucadia."

Quoting shrike
Here is a nice article about FXCM stock price: http://leaprate.com/2015/08/misunder...and-valuation/ Its not very attractive to hold fxcm stock due to the loan-agreement with Leucadia. The core retail business is doing alright tho.

The key point here is that the terms of the Leucadia loan impact FXCM shareholders, not FXCM account holders. Despite the events of 15 January 2015, FXCM's capitalization remains at levels similar to before the SNB flash crash. Furthermore, the latest financial data from the CFTC show traders continue to have more money on deposit with FXCM than any other US-regulated forex broker.

Attached Image (click to enlarge)
Click to Enlarge Name: tEmLeSG.png Size: 27 KB


That said, I would like to address some possible confusion regarding the name change. The public company (FXCM Inc.) will change its name and ticker symbol (NYSE: FXCM) as we announced this in the press release which included full details of our restructure with Leucadia, however FXCM the broker will not change its name at all. We will still remain FXCM within all of our entities.

If you have any additional questions regarding the stock, you're welcome to contact our Investor Relations department: http://bit.ly/1SEYg7W
  • #8,763
  • Mar 15, 2016 7:10pm Mar 15, 2016 7:10pm
Quoting rosyfx
{quote} Hope this will improve slippage issues.
Hi Rosy,

Please tell me to what slippage issues you are referring, and I will be happy to address your concerns.

At FXCM, we take great pride in the quality of our execution. A yearlong study of orders placed through FXCM shows our clients received positive slippage as often as they received negative slippage: http://bit.ly/1KWaV8g

  1. 76.2% of all orders had NO SLIPPAGE.
  2. 13.5% of all orders received positive slippage.
  3. 10.2% of all orders received negative slippage.
  4. Over 58% of all limit and limit entry orders received positive slippage.
  5. 52% of all stop and stop entry orders received negative slippage.


In addition, FXCM provides you with unique tools to help you minimize your negative slippage and still receive the full benefits of any positive slippage that's available in the market.

  1. Market Range (AKA Maximum Deviation* on our MT4 platform) lets you specify how much negative slippage you are willing to accept on a market order. If you set a Market Range of 2, then 2 pips is the most negative slippage you could get on the order. Otherwise it will be canceled to protect you from unwanted negative slippage. However, you could still receive 3 pips or even more positive slippage on the order, if a better price is available in the market.
  2. Range Entry works like Market Range but for pending orders (stops and limits) and is only available on our Trading Station platform (not MT4). In this earlier post, I show an example of how to use the Range Entry feature: http://www.forexfactory.com/showthre...22#post8552322



* Many MT4 brokers do not support the Maximum Deviation feature at all. Some brokers that do offer Max Dev use it to limit both your positive slippage and your negative slippage equally. By contrast, FXCM enhanced the Max Dev functionality of our MT4 platform to limit only negative slippage. That means, you can still receive the full benefits of any positive slippage that's available in the market when you use the Max Dev feature to minimize your negative slippage with FXCM.

  • #8,764
  • Mar 15, 2016 7:16pm Mar 15, 2016 7:16pm
Jason: do you have statistics for the average execution time on fxcm?
  • #8,765
  • Mar 15, 2016 7:28pm Mar 15, 2016 7:28pm
Hi Regme,

Quoting regme
1- Why quote Bid are not same on Market Watch and Charts.
I responded to this question the same day you posted it last month: http://www.forexfactory.com/showthre...32#post8772532

Furthermore, we have already implemented the MT4 solution I mentioned to you at that time: http://www.forexfactory.com/showthre...80#post8784480

Quoting regme
2- Why Time in Second is different. Please check image at my previous post.
I looked at your previous posts, and I'm still not sure to what you are referring. Please clarify.

Quoting regme
3- Why Platform don't allow login and trades on Saturday. Even platform shows "Not Connected" all day.
While you can often access your MT4 platform on Saturday to view charts, we sometimes use this time when trading is closed to perform routine maintenance and updates to the servers.

Quoting regme
4- Please specify when Bugs in FXCMdata link will be fixed.
If you are asking when MT4 charts will reflect the raw FX spreads available on our No Dealing Desk (NDD) execution, then you will be happy to know that solution has been implemented as mentioned above. If you are referring to something else, please clarify.
  • #8,766
  • Edited Mar 16, 2016 11:03am Mar 15, 2016 7:51pm | Edited Mar 16, 2016 11:03am
Quoting ClimaxOffset
Anyone actually making money with fxcm ? Most of the answers will be no. FXCM is a market maker. Careful with this one. They bet against you.
Quoting ClimaxOffset
{quote} What would you recommend ?
Quoting avibe
{quote} another misinformed trader ...quick to blame the broker for his losses instead of taking responsibility.. i bet over 10000 traders at FXCM made the biggest mistake of their lives trading there.. do your research and stop blaming brokers for your problems. tisk tisk
Quoting n_aftab
have to agree .. if you are at a point where you are blaming the broker .. then i think you need to stop trading and look at what you are doing fxcm are regulated by far scrutinised more then the smaller brokers .. I have been using them for years and can say that i very rarely have problems with them .. i am not a super scalper though .. so perhaps depending on what you are doing comes into play here too.
Quoting Mm8
{quote} i continualy have problems with fxcm but i still make money most of my problems are mechanical like for the life of me i cant get a statment sent dispite freqent atempts etc
Hi ClimaxOffset,

A poor workman blames his tools. Instead of asking and answering your own questions, you could benefit from learning the real reasons most traders lose and studying the traits of successful traders at FXCM: http://bit.ly/1Tpimqa

Quoting ClimaxOffset
{quote} If you seriously think the broker is out for your well being, you have some serious issues. Everything you've just said made you look even stupider.
Quoting FlashCall
{quote} How come they lost 100 of millions of $ during CHF last yr if they were betting against you? That means their clients made 100 of millions....
Quoting n_aftab
{quote} spot on ... the brokers that lost money are the ones not trading against you ... and the ones that seem to have lost nothing are the ons most likely to be trading against you .. and have the most incentive to mess you around and play games with you and your platform.
As others here have confirmed, FXCM provides No Dealing Desk (NDD) forex execution on all our standard accounts. That means we don't take the market risk on the other side of your trades, so we don't profit from your losses or lose from your profits. Instead, we profit from your trading volume by charging you a commission. Therefore, we want you to be profitable, so you will trade more with us.
  • #8,767
  • Mar 16, 2016 8:37am Mar 16, 2016 8:37am
Hello,

I am having some problems with Marketscope. I can't figure out how to set a default stop and limit for new orders. When I log in and pull up the trade station window, I see that "Charts" is one of the options at the top, and there is a drop down menu where I can choose "Trading", and other that drop down menu is "Order settings", which I believe is what I need to access. However, that whole menu under "Trading" is greyed out?? So I can't click on any of it. I've tried exiting and reopening the application and also logging in at different times, but it's been like this for awhile.

Another problem I have is that sometimes when I'm looking at a chart and trying to zoom in or out the screen goes all wonky on me-- zooming rapidly back and forth. Closing the charts and reopening them usually solves this, but it's a recurring issue.

Any suggestions? I hope it is okay to post this here.
  • #8,768
  • Edited 5:17pm Mar 16, 2016 4:52pm | Edited 5:17pm
Quoting beepbop2015
Hello, I am having some problems with Marketscope. I can't figure out how to set a default stop and limit for new orders. When I log in and pull up the trade station window, I see that "Charts" is one of the options at the top, and there is a drop down menu where I can choose "Trading", and other that drop down menu is "Order settings", which I believe is what I need to access. However, that whole menu under "Trading" is greyed out?? So I can't click on any of it. I've tried exiting and reopening the application and also logging in at different...
Hi Beepbop,

In order to set a default stop and limit for new orders on Trading Station, you must change your Trading Settings from the Default (Click and Confirm) to either One-Click or Double-Click. To do this, click on the Trading Settings button along the top of your platform. After changing your Trading Settings, you can set your default stop and limit distances.

Attached Image


Quoting beepbop2015
Another problem I have is that sometimes when I'm looking at a chart and trying to zoom in or out the screen goes all wonky on me-- zooming rapidly back and forth. Closing the charts and reopening them usually solves this, but it's a recurring issue. Any suggestions? I hope it is okay to post this here.
Does this happen with all currency pairs and time frames or only some? My first thought would be that there might be some error in the cached chart data on your computer. Please try the steps below and let me know if they work for you.

 

  1. Close your Trading Station platform if it's open.
  2. Go to C:\Program Files (x86)\Candleworks\FXTS2\QuoteStorage
  3. Delete the History folder.
  4. Open Trading Station and your Marketscope charts.

  • #8,769
  • Mar 16, 2016 5:14pm Mar 16, 2016 5:14pm
Quoting Jason Rogers
{quote} Hi Beepbop, In order to set a default stop and limit for new orders on Trading Station, you must change your Trading Settings from the Default (Click and Confirm) to either One-Click or Double-Click. To do this, click on the Trading Settings button along the top of your platform. After changing your Trading Settings, you can set your default stop and limit distances. {image} {quote} Does this happy with all currency pairs and time frames or only some? My first thought would be that there might be some error in the cached chart data on your...
Hi Jason,I'm using the trading station mobile app on Android and it will not load any Ema that is bigger than 100. The Program seems to tryIng to load it but it never Shows up. Can you please look at this as I'm normally trading with the Ema 200.
  • #8,770
  • Mar 16, 2016 5:39pm Mar 16, 2016 5:39pm
Quoting Jason Rogers
{quote} Hi Beepbop, In order to set a default stop and limit for new orders on Trading Station, you must change your Trading Settings from the Default (Click and Confirm) to either One-Click or Double-Click. To do this, click on the Trading Settings button along the top of your platform. After changing your Trading Settings, you can set your default stop and limit distances. {image} {quote} Does this happen with all currency pairs and time frames or only some? My first thought would be that there might be some error in the cached chart data on your...
This was very helpful, thank you! I have my defaults set up now. I also deleted the history folder from Quote Storage. It took a bit of clicking around for me to find it, lol. But after I reopened Trading Station I experimented with zooming very quickly in and out on several pairs (just to see if it would trigger the issue I've been having) and it did fine. Hopefully this solves it. To answer your question, it's happened on all the pairs I trade, but I think more often since I've switched to the H4 charts.
  • #8,771
  • Mar 16, 2016 9:31pm Mar 16, 2016 9:31pm
What ever FXCM said, they are one of the big MMs, like OANDA!!
and there is a BIG ROOM for DD. check their charts and you will realize . . .

it is a good broker but MM.
Forex Philosopher
  • #8,772
  • Mar 17, 2016 8:24am Mar 17, 2016 8:24am
Hello traders!

We have great news for you!
Recently, FXCM broker has signed partnership with PFSOFT, a developer of trading software for banks, brokers and retail traders. Our company provides two primary software: Protrader (turnkey solution for brokers) and Protrader Multi-Connect or PTMC (trading platform for individual traders) that can be connected to any broker in a short time.

What does this mean for traders? This means that every trader can start using PTMC platform with a reliable FXCM broker immediately.
If you have your trading account (demo or real), you may enter PTMC with your login details. Otherwise, you need to open a new practice or real account through our website or FXCM website.
Our main goal is not just to provide traders with cool trading platform, but also to allow them on their own to take part in its creation. If you have interesting ideas on functionality, which you would like to see in your trading platform, please contact us!

Lets create an ideal platform together!
Attached Image (click to enlarge)
Click to Enlarge Name: ptmc main.png Size: 212 KB

Attached Image (click to enlarge)
Click to Enlarge Name: ptmc-fx.png Size: 252 KB
Your experience starts with Protrader Multi-Connect
  • #8,773
  • Mar 17, 2016 8:35am Mar 17, 2016 8:35am
I have just looked at it with a live account....first impression: very very nice! especially the charttypes.
  • #8,774
  • Mar 17, 2016 10:38am Mar 17, 2016 10:38am
Quoting Master-Mind
What ever FXCM said, they are one of the big MMs, like OANDA!! and there is a BIG ROOM for DD. check their charts and you will realize . . . it is a good broker but MM.
Hi Master-Mind,

While we offer a DD option for Mini accounts ($50 opening minimum), FXCM provides No Dealing Desk (NDD) forex execution for all Standard accounts (2k minimum) and Active Trader accounts (25k minimum). On the NDD model, we immediately offset each of your orders one-for-one with the best prices from competing liquidity providers: http://bit.ly/1mbpmtH

That means FXCM doesn't profit from your losses or lose from your profits. Instead, we profit from your trading volume by charging you a commission. Therefore, FXCM wants you to be profitable, so you can trade more with us.
  • #8,775
  • Mar 17, 2016 11:22am Mar 17, 2016 11:22am
Quoting PTMC
Hello traders! We have great news for you! Recently, FXCM broker has signed partnership with PFSOFT, a developer of trading software for banks, brokers and retail traders. Our company provides two primary software: Protrader (turnkey solution for brokers) and Protrader Multi-Connect or PTMC (trading platform for individual traders) that can be connected to any broker in a short time. What does this mean for traders? This...

Great.

One question: Can we develop our own scripts, strategies and indicators?
  • #8,776
  • Mar 17, 2016 11:34am Mar 17, 2016 11:34am
Quoting jsr
{quote} Great. One question: Can we develop our own scripts, strategies and indicators?
Yes, very soon we will represent tool for algo traders, so you can create you own indicators/scripts/strategies.
Your experience starts with Protrader Multi-Connect
  • #8,777
  • Mar 17, 2016 3:30pm Mar 17, 2016 3:30pm
Quoting Mbt
{quote} Hi Jason,I'm using the trading station mobile app on Android and it will not load any Ema that is bigger than 100. The Program seems to tryIng to load it but it never Shows up. Can you please look at this as I'm normally trading with the Ema 200.
Hi Mbt,

I was able to load a 200-day EMA on my Trading Station Mobile app.

Attached Image (click to enlarge)
Click to Enlarge Name: 200 day EMA Screenshot_2016-03-17.png Size: 173 KB


Note that the indicator line could be be far above or far below where the market is currently trading, so try zooming out on your chart so that the line comes into viewing range. Also try scrolling to the left on your chart so that more historical data loads onto your smartphone. You need 200 periods to draw each point on the EMA line.
  • #8,778
  • Mar 17, 2016 4:32pm Mar 17, 2016 4:32pm
Quoting beepbop2015
{quote} This was very helpful, thank you! I have my defaults set up now. I also deleted the history folder from Quote Storage. It took a bit of clicking around for me to find it, lol. But after I reopened Trading Station I experimented with zooming very quickly in and out on several pairs (just to see if it would trigger the issue I've been having) and it did fine. Hopefully this solves it. To answer your question, it's happened on all the pairs I trade, but I think more often since I've switched to the H4 charts.
It's my pleasure. I'm glad clearing out your chart cache seems to have resolved the issue. Please let me know if something else comes up.
  • #8,779
  • Mar 19, 2016 2:44am Mar 19, 2016 2:44am
Quoting Jason Rogers
{quote} Hi Master-Mind, While we offer a DD option for Mini accounts ($50 opening minimum), FXCM provides No Dealing Desk (NDD) forex execution for all Standard accounts (2k minimum) and Active Trader accounts (25k minimum). On the NDD model, we immediately offset each of your orders one-for-one with the best prices from competing liquidity providers: http://bit.ly/1mbpmtH That means FXCM doesn't profit from your losses or lose from your profits. Instead, we profit from your trading volume by charging you a commission. Therefore, FXCM...
thank you
are u speaking aboiut FXCM-UK or FXCM-US ؟؟
Forex Philosopher
  • #8,780
  • Mar 19, 2016 4:55am Mar 19, 2016 4:55am
Quoting Master-Mind
What ever FXCM said, they are one of the big MMs, like OANDA!! and there is a BIG ROOM for DD. check their charts and you will realize . . . it is a good broker but MM.

This is my exact point. They have great customer service, they act like they love you. But they are in fact a market maker. Which means they will take your money, kick you in the nutts and provide excellent customer support while you hold your nutts.


Jason Rogers,

Prove to me fxcm is not a market maker and i will stop all my complaining and just blame myself. I've been blaming myself for years until i learned the difference between MM and ECN. STP and NDD...
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